Gartner predicts boom in hyper-automation technologies
Hyperautomation is fast becoming an even more important feature of business continuity and digital transformation, with Gartner reporting substantial increases in the valuation of hyperautomation technology.
According to the data analyst firm, the global market for hyper-automation tools and technologies will reach $ 532.4 billion this year and total $ 596.6 billion in 2022, both up from $ 481.6 billion in 2020.
Hyper-automation refers to the approach that allows organizations to quickly automate as many processes as possible using specific sets of tools and technologies. These can include robotic process automation (RPA), low code application platforms (LCAP), artificial intelligence (AI), and virtual assistants.
These tools can be used in many IT and business use cases, and are among the technologies that will be most in demand as critical enablers of the broader automation trend. The market comprising these tools will see double-digit growth through 2022, according to Gartner.
Other software used to automate more specific tasks, such as ERP, supply chain and CRM systems, will also help the market grow, Gartner predicts.
“Hyperautomation has gone from being an option to a survival condition,” says Fabrizio Biscotti, vice president of research at Gartner.
“Organizations will need more automation of IT and business processes as they are forced to accelerate digital transformation plans in a post-COVID-19, above all digital world.”
Gartner’s research also found that the increased drive for hyperautomation will lead organizations to adopt at least three of the tools mentioned above to promote and enable an automation-centric approach.
The fastest growing hyper-automation software category includes tools that provide visibility to map business activities, automate and manage content ingestion, orchestrate work across multiple systems, and deliver complex rule engines .
“Companies are moving from a loosely coupled set of automation technologies to a more connected automation strategy,” said Cathy Tornbohm, senior vice president of research at Gartner. “In response, vendors are developing integrated offerings that combine technologies such as RPA, CASL, and business process management into one integrated tool.”
Content ingestion automation tools, such as signature verification tools, optical character recognition, document ingestion, conversational AI, and natural language technology (NLT), will also be very important. requested.
Gartner also predicts that by 2024, organizations will reduce operational costs by 30% by combining hyper-automation technologies with redesigned business processes.
“The shift to hyper-automation will be a key factor in enabling companies to achieve operational excellence and ultimately cost savings in a digitally driven world,” says Tornbohm.